The Importance of Automation in the Service Economy

The world’s major economies are moving again thanks to mass vaccination against the coronavirus. President Biden says a higher demand for workers will help them negotiate increased wages and better conditions. But instead of welcoming them back, many businesses are replacing workers with automation and artificial intelligence - often a much cheaper and more reliable option in the long term. Even before the pandemic, one influential think tank predicted nearly 25 percent of jobs are being lost to automation. And it is believed that the months of lockdowns have accelerated that shift, especially in routine low-skilled jobs that require minimal human interaction. So where is the shift happening and how has the pandemic affected trends? What jobs are under threat, what are educators and policymakers doing about it, and could it actually mean more people doing more creative and fulfilling jobs? Paul Henley is joined by a panel of experts to discuss how accelerated automation is changing the world of work.